A-share market attracted US$25bn in first half

The total market capitalization of China's A-share market reached US$25.3 billion in the first half of the year, over four times the level a year ago, Xinhua Net reported (in Chinese). The market attracted hundreds of thousands of new investors as the pace of initial public offerings accelerated and state-owned share reforms progressed. There were 40 IPOs in the first half of 2007 worth a total of US$16 billion, including blue-chip companies such as Ping An Insurance, Bank of Communications, Industrial and Commercial Bank of China, China CITIC Bank and Cosco.